Gartner Inc. (NYSE:IT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner’s divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company’s industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results. “
A number of other research firms have also recently issued reports on IT. Cantor Fitzgerald reissued a “buy” rating and issued a $108.00 target price on shares of Gartner in a research note on Friday, August 5th. Morgan Stanley set a $101.00 price objective on Gartner and gave the stock a “hold” rating in a research report on Friday, August 5th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $90.00 price objective (down from $93.00) on shares of Gartner in a research report on Monday, August 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $109.00 price objective (down from $111.00) on shares of Gartner in a research report on Sunday, August 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $100.00 price objective on shares of Gartner in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $99.08.
Shares of Gartner (NYSE:IT) opened at 88.21 on Wednesday. Gartner has a 1-year low of $77.80 and a 1-year high of $103.00. The stock has a market capitalization of $7.29 billion, a P/E ratio of 40.22 and a beta of 1.03. The stock’s 50 day moving average price is $89.97 and its 200-day moving average price is $93.83.
Gartner (NYSE:IT) last posted its earnings results on Thursday, August 4th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by $0.02. Gartner had a net margin of 7.97% and a negative return on equity of 197.12%. The business earned $610 million during the quarter, compared to analyst estimates of $596.78 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Gartner will post $2.81 EPS for the current fiscal year.
In other news, SVP David Godfrey sold 10,198 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $94.10, for a total transaction of $959,631.80. Following the transaction, the senior vice president now owns 29,570 shares in the company, valued at $2,782,537. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen E. Dykstra sold 3,086 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $90.98, for a total value of $280,764.28. Following the transaction, the director now owns 18,763 shares in the company, valued at approximately $1,707,057.74. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in IT. Fiera Capital Corp purchased a new position in shares of Gartner during the second quarter worth $40,513,000. Polen Capital Management LLC raised its position in shares of Gartner by 10.9% in the second quarter. Polen Capital Management LLC now owns 3,078,851 shares of the company’s stock worth $299,911,000 after buying an additional 303,499 shares during the period. BlackRock Fund Advisors raised its position in shares of Gartner by 8.1% in the second quarter. BlackRock Fund Advisors now owns 3,943,756 shares of the company’s stock worth $384,161,000 after buying an additional 294,168 shares during the period. EverPoint Asset Management LLC purchased a new position in shares of Gartner during the second quarter worth $28,429,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Gartner by 11.6% in the first quarter. TimesSquare Capital Management LLC now owns 2,281,025 shares of the company’s stock worth $203,810,000 after buying an additional 237,325 shares during the period. Institutional investors own 90.45% of the company’s stock.
Gartner Company Profile
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